@ The White House
In the morning, the President will receive the Presidential Daily Briefing in the Oval Office.
Later in the morning, the President will travel to Prince George, Virginia.
In Prince George, the President will tour and deliver remarks on the economy at Rolls-Royce Crosspointe. The Rolls-Royce Crosspointe facility is a center of excellence for advanced manufacturing of precision-engineered engine discs and other components for some of the most sophisticated aircraft in the world.
In the afternoon, the President will depart Prince George, Virginia en route Houston, Texas.
In the evening, the President will deliver remarks at two campaign events. The President?s remarks at the first campaign event are pooled for television and open to pre-credentialed correspondents.
At night, the President will return to Washington, DC.
@ Wall Street
Employment Report (Feb.) We expect another strong employment report in February, consistent with declining initial unemployment insurance claims and more optimism about the labor market seen in recent consumer surveys. We expect an overall increase in jobs of 220,000, not quite as strong as January's 243,000 because we do not expect as much help from mild winter weather this month. We expect the solid job gains to lead to another tick down in the unemployment rate, to 8.2% from 8.3%.
Trade Balance (Jan.) The foreign trade deficit should narrow to $47.4 billion in January, after widening in November and December. Exports should grow while imports move sideways. A big increase in aircraft exports will lead overall exports higher. On the import front, a higher oil import bill (due to a combination of higher volumes and prices) should offset weaker nonpetroleum imports. For the first quarter of 2012, trade is likely to provide a small boost to growth as both exports and imports grow at a moderate pace ? but exports outpace imports.
